RenaissanceRe (RNR) Upgraded to “B” by TheStreet
RNR has been the topic of several other research reports. Zacks Investment Research lowered shares of RenaissanceRe from a hold rating to a sell rating in a report on Wednesday, January 2nd. Bank of America raised shares of RenaissanceRe from an underperform rating to a neutral rating and increased their target price for the company from $125.00 to $144.00 in a report on Monday, December 3rd. Keefe, Bruyette & Woods raised shares of RenaissanceRe from a market perform rating to an outperform rating and increased their target price for the company from $143.00 to $168.00 in a report on Monday, December 10th. Wells Fargo & Co set a $130.00 target price on shares of RenaissanceRe and gave the company a hold rating in a report on Wednesday, October 31st. Finally, Morgan Stanley reduced their target price on shares of RenaissanceRe from $142.00 to $136.00 and set a hold rating on the stock in a report on Wednesday, November 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. RenaissanceRe presently has an average rating of Hold and an average price target of $143.70.
Shares of RenaissanceRe stock traded down $0.23 on Thursday, hitting $142.42. 204,380 shares of the company traded hands, compared to its average volume of 246,832. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.67 and a current ratio of 1.71. The stock has a market cap of $5.74 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 1.36 and a beta of 0.50. RenaissanceRe has a 12-month low of $117.35 and a 12-month high of $142.81.
In other RenaissanceRe news, SVP Jonathan Paradine sold 20,000 shares of the firm’s stock in a transaction on Monday, December 31st. The shares were sold at an average price of $132.79, for a total value of $2,655,800.00. Following the sale, the senior vice president now owns 64,630 shares of the company’s stock, valued at approximately $8,582,217.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Penserra Capital Management LLC bought a new stake in RenaissanceRe in the 4th quarter worth $30,000. First Mercantile Trust Co. grew its holdings in RenaissanceRe by 52.6% in the 4th quarter. First Mercantile Trust Co. now owns 290 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of RenaissanceRe by 333.3% in the 4th quarter. AdvisorNet Financial Inc now owns 650 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 500 shares during the period. ETF Managers Group LLC lifted its position in shares of RenaissanceRe by 15.5% in the 4th quarter. ETF Managers Group LLC now owns 937 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 126 shares during the period. Finally, Ffcm LLC purchased a new stake in shares of RenaissanceRe in the 4th quarter worth about $149,000. 94.98% of the stock is currently owned by institutional investors and hedge funds.
RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance coverages in the United States and internationally. Its Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, such as earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, including proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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